Cardano’s Hoskinson Confirms U.S. Crypto Advisory Role Under Trump—ADA Soars to New Highs

• Charles Hoskinson is confirmed as a crypto advisor under former President Trump, aiming to address regulatory uncertainty and drive innovation through bipartisan policy efforts.
• Cardano’s ADA token rose 20%, hitting a seven-month high of $0.52, fueled by growing market confidence and Hoskinson’s role in shaping U.S. crypto policy.

As discussed in a recent CNF update, Charles Hoskinson has offered Cardano’s support to President Donald Trump in order to track elections safely and legally on the blockchain. Cardano founder Charles Hoskinson has confirmed he will advise on U.S. crypto legislation under former President Donald Trump’s potential administration. Hoskinson aims to address the regulatory uncertainty that has long stifled the industry.

It has now been confirmed that Charles Hoskinson will be President Trump’s crypto advisor, as shared in a tweet.

It's confirmed. Charles Hoskinson to be President Trump's crypto advisor.#Cardano $ADA

— Cardano YOD₳ (@JaromirTesar) November 9, 2024

Hoskinson emphasized the need for a bipartisan approach to create favorable policies for innovation without needing subsidies. His company, Input Output Global (IOG), plans to establish a dedicated policy office by early 2025, focused on bipartisan efforts for crypto legislation, including the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Responsible Financial Innovation Act (RFIA).

Nevertheless, while Hoskinson praised Bitcoin’s foundational role in the industry, he expressed disappointment in its slow rate of innovation, hoping to see regulatory certainty improve for the entire crypto space.

Hoskinson’s new policy office will focus on collaborating with key U.S. legislators to promote clear regulations defining crypto as securities or commodities. He even went further to note that the current lack of clarity has hindered growth across multiple ecosystems, including Bitcoin, Ethereum, and Solana.

ADA Price Reaches New High Amid Policy Optimism

With his established connections in the political sphere, Hoskinson is optimistic about future discussions and collaborations that could pave the way for widespread regulatory acceptance, potentially bringing “trillions of dollars of value” to the U.S. economy through the crypto industry.

Following Hoskinson’s announcements, Cardano’s ADA token soared 20%, reaching $0.52, a seven-month high. Hoskinson attributed this bullish momentum to growing market confidence in Cardano and its potential role in shaping U.S. crypto policy.

Earlier, CNF reported that ADA jumped 36% as Hoskinson eyes a U.S. crypto policy role. At the time of writing, Cardano (ADA) is trading at $0.5969, with an increase of 11.87% in the past day and a surge of 79.19% in the past week. See the ADA price chart below.